CHATHAM LODGING TRUST - CLDT STOCK NEWS

Chatham Lodging Trust (NYSE: CLDT) has announced the opening of the 170-suite Home2 Suites by Hilton in Woodland Hills, Los Angeles, marking its third hotel opening in six months with a total investment of approximately $140 million. The new hotel is anticipated to have high revenue per available room (RevPAR) due to its unique positioning and market demand. Chatham plans to continue reinvesting capital from older assets into new hotels with higher growth prospects, expecting to generate more than $1 million in incremental stabilized EBITDA.

Chatham Lodging Trust (NYSE: CLDT) announced the federal tax characterization of dividends declared for its preferred shares in 2021. The Series A Preferred shares dividends are $0.48307, payable on 10/15/21, and $0.41406, payable on 1/18/22. These dividends are reported as taxable ordinary income and do not represent foreign taxes or qualified dividend income. Shareholders will receive IRS Form 1099-DIV for tax reporting. The tax classification is preliminary and shareholders are advised to consult tax professionals.

Chatham Lodging Trust (NYSE: CLDT) will release its fourth quarter 2021 financial results on February 24, 2022, before market opening. CEO Jeffrey H. Fisher and other executives will discuss the results in a conference call at 10:30 a.m. ET. The company operates 41 hotels across 15 states and the District of Columbia, focusing on upscale, extended-stay and premium-branded, select-service hotels. Interested parties can participate via webcast or by telephone. A recording will be available until March 3, 2022.

Chatham Lodging Trust (NYSE: CLDT; CLDT-PA) announced a preferred share dividend of $0.41406 per share, set for payment on January 18, 2022. Shareholders on record as of December 31, 2021 will receive this dividend. The company focuses on upscale, extended-stay hotels and owns 41 hotels with 6,169 rooms/suites across 15 states and the District of Columbia.

Chatham Lodging Trust (NYSE: CLDT) reported strong third-quarter results for 2021, with a 92% increase in RevPAR to $107, driven by a 39% rise in ADR to $150 and 38% occupancy boost to 71%. The net loss decreased significantly to $1.4 million, from $18.3 million year-over-year. Adjusted EBITDA surged to $19.6 million from $5.1 million in Q3 2020, while Adjusted FFO reached $10.5 million compared to a loss in the prior year. Acquisitions of two hotels for $71 million enhanced portfolio quality. Chatham also amended its credit facility, improving financial flexibility.

Chatham Lodging Trust (NYSE: CLDT) will report its third quarter 2021 financial results on November 4, 2021, before market opening. A conference call will follow at 10:00 a.m. ET featuring CEO Jeffrey H. Fisher and other executives to discuss results. The company, which invests in upscale, extended-stay and select-service hotels, owns 41 hotels with a total of 6,169 rooms across 15 states and the District of Columbia. The call will be available via webcast, and a recording will be accessible until November 11, 2021.

Chatham Lodging Trust (NYSE: CLDT; CLDT-PA) has announced a preferred share dividend of $0.48307 per share, payable on October 15, 2021. Shareholders on record as of September 30, 2021 will receive this dividend, marking a significant return for investors. The company, focusing on upscale, extended-stay hotels and select-service hotels, owns 41 properties totaling 6,169 rooms across 15 states and the District of Columbia. Chatham's commitment to shareholder returns is demonstrated through this dividend declaration.

Chatham Lodging Trust (NYSE: CLDT) appointed Ethel Isaacs Williams and David J. Grissen as independent directors to its board, effective immediately. With extensive experience, Williams previously served as senior vice president at Kaufman Lynn and held various roles at Florida Power & Light and NextEra Energy. Grissen concluded a successful 35-year career at Marriott International, overseeing extensive operations. Their appointments aim to enhance board diversity and expertise, supporting the company’s goal of maximizing cash flow and shareholder returns.

Chatham Lodging Trust (NYSE: CLDT) has announced the acquisition of two premium-branded hotels in Austin, Texas, for $71.2 million, equating to approximately $265,000 per room. The portfolio includes the Residence Inn and TownePlace Suites, totaling 269 rooms. Expected to generate an estimated NOI yield of 8.0% to 8.5%, these acquisitions aim to enhance portfolio RevPAR and systematically reduce the average age of the portfolio. The properties are strategically located in a rapidly growing area, benefiting from significant corporate demand.